From the Real Deal:
Northern NJ industrial properties are fetching record rents
Warehouse tenants in 2021 paid more for proximity to the largest consumer market in the U.S. than ever before.
Retailers, manufacturers and other industrial renters want so badly to be near New York City that they’re willing to pay 50 percent more for space within a few miles of it than they would have a couple years ago.
Asking rents in northern New Jersey’s industrial market ticked up 23 percent in 2021 to an average rate of $10.85 per square foot — a new high, data from Savills Research show. That figure is even higher for core submarkets like the Meadowlands, just west of the city.
“The reality is, if you want to lease a modern big-box building in the Meadowlands right now — if you can find something — it’s going to cost you more than $20 per square foot,” Mark Russo, Savills’ director of industrial research for North America, told The Real Deal. “That’s where lease rates are going if you’re looking at modern product.”
More than 11.7 million square feet of industrial space is under construction in the market, but new deliveries have been insufficient in quelling demand and have pushed rents so high the market’s longtime mom-and-pop operators are being priced out, Russo said.
Foist
I guess we can expect goods price to rise 50% in area as well. Nothing free.
As if prices aren’t off the charts already? The express line at Shop Rite is now ~ $100 per visit. I just scheduled a plumber to come in to swap out a toilet in a half bath and shower components/fixtures in one of the full baths… $1125 total. Keep toiling away.
No worries Powell is on the job and he is saying all the right things.
8 Trillion dollar balance sheet we got this one folks…
https://www.barrons.com/articles/things-to-know-today-51641983661
“Phoenixs” is that like Malcom X? MLK day is right around the corner.
Russia is moving military helicopters into position on the Ukrainian border in what could be a sign of impending invasion, The New York Times reported.
Per the Times, “U.S. officials say the Russian … window for an invasion is limited, dictated by temperatures that will freeze the ground — allowing for the easy movement of heavy vehicles and equipment — before a spring thaw, which could begin by March, creates a muddy quagmire.”
Around 100,000 Russian troops, 1,200 tanks, and hundreds of other vehicles are currently massed on the Ukrainian border, Forbes reports.
Talks between American and Russian diplomats began in Geneva Monday in an attempt to defuse the situation, but little progress has been made. Russian Deputy Foreign Minister Sergei A. Ryabkov attempted to downplay the risks of Russian invasion even as President Vladimir Putin continues to make aggressive moves.
U.S. Deputy Secretary of State Wendy Sherman said Russia’s demands that NATO curtail its troop deployments in Eastern Europe and bar Ukraine from membership in the alliance are “non-starters.”
JOE! PUT DOWN THE FIDGET SPINNER AND LISTEN!
Juice,
Shouldn’t be long before we here the oft stated, “How was I supposed to know?”
—
ROBERTS: Congressman, you know, a lot—big question that people asking is, how do we get to this point here. And minority leader John Boehner there in the House has pointed fingers at Senator Chris Dodd and you four years ago opposing reform of entities like Fannie Mae and Freddie Mac.
The Wall Street Journal says in the year 2000 when Representative Richard Baker proposed Fannie Mae and Freddie Mac reform you dismissed it. New York Times reports that an administration proposal in 2003 to reform Fannie Mae and Freddie Mac was met by response from you where you said, “I do not believe that we’re facing any kind of crisis.” Were you responsible for the delay—
FRANK: Of course not.
—
Pumps.
Remember the turtles.
Few turtles reach the sea
The high rates of consolidation and failure that Web companies are going through now is typical of many newly emerging industries throughout American economic history. Whenever a new technology comes along that has the potential to dramatically change the competitive landscape, hundreds of companies are formed to try to exploit that opportunity, including many with weak management or poorly thought out business plans. Intense competition ensues, returns on capital fall, and most of the new entrants either merge or go bankrupt.
The consolidation of the U.S. railroad industry in the 20th century shows this pattern. In 1929, there were 163 “Class I” railroads in the U.S. Today, there are seven Class I railroads remaining, and they carry more than 90 percent of the rail freight in the U.S., according to the Association of American Railroads in Washington, D.C. The Penn Central Railroad was formed from 600 previously independent railroads.
Merrill Lynch analyst Henry Blodget, one of the leading bulls on Web stocks, warned about a shakeout in the Internet industry in a 330-page report issued last June.
“As the shakeout continues, we continue to believe that the Internet spoils will go to the few, not the many,” Blodget wrote. “As one investor we respect put it, anytime a new industry emerges, many turtles hatch, few make it to the sea.”
The U.S. Consumer Price Index (CPI) posted its fastest rise in nearly 40 years at the end of 2021, signaling still-elevated inflationary pressures as supply chain bottlenecks persist and demand remains high.
Prices rose at a 7.0% clip in December over last year — the fastest pace since June 1982. On a month-over-month basis, the rise was 0.5%, or slightly above the 0.4% increase expected, but a slowdown from November’s 0.8% gain.
By category, prices for used cars and trucks and shelter were the largest contributors to the headline increase. The used cars and trucks index rose for a third straight month and accelerated to a 3.5%. month-on-month rise in December from November’s 2.5% increase. This index was also higher by a marked 37.3% compared to the same month last year. Shelter prices rose 0.4%.
Powell’s got this. Don’t worry.
Wtf?! She beat Tesla and the S&P from 2014-2019. Why does everyone obsess over 2021 with ARK….like wtf? They ignore past performance, and just focus on when it peaked. I just understand this kind of analysis. Look at the stocks she is invested in, you might not like them, but they are all growing significantly. This is not a short term play, it’s a long term play on disruptive innovation. Right now, it’s a golden opportunity even if it drops more to make significant money over the next 5-10 years.
Read this post again. Understand what Miller is saying. It applies directly to ark funds as we speak. Do you understand the more it falls, the less risk and more upside? Read what Miller says and understand like he points out only 1 out 10 people act on this. They might understand it, but when it comes time to executing it, they can’t do to emotion and psychology.
The Great Pumpkin says:
January 11, 2022 at 9:31 pm
Chi, was reading up on Miller.
“There’s a guy out there that did a full analysis showing that ARK’s rise correlates almost perfectly with inflows and outflows. It all started with Tesla, and everyone started jumping in. As she took on more money, she just kept bidding up small caps, she and she only. She now owns 10% of them all. Once the inflows stopped, most of them have fully reverted to their original levels at the end of 2019. Sorry, that pop in all her stocks was never real. It was just her pumping it up with fresh cash.”
A 5 year time horizon is useless when you are forced to unwind all your positions due to outflows.
So the next time a politician tries to tell you to be grateful that your wages are going up or you can move to a new higher paying job, just remind him that the surge in the cost of living is outpacing wage gains, thanks to The Fed’s money-largesse and Congress’ lockdown policies and helicopter money have crushed the quality of life for millions.
We all predicted the decreasing quality of life here since 2008.
Libturd
Are there any hmarts in Costa Rica? Asking for a friend.
https://www.dailymail.co.uk/news/article-10394311/Hillary-v-Trump-REMATCH-Two-Democrat-operatives-say-Clinton-best-option-win-2024.html
This guy doesn’t realize this is creating a significant opportunity. He only obsesses with how much it goes down, not realizing this is creating a golden opportunity. Prove to me that stocks like Tesla, Coin, or Teledoc are going to stop growing and die. I don’t see it. As for Arkg, please tell me how companies like Beam, EXAS, PACB, DNA, or CRSP are going to stop growing and die. The economy would have to go into a major depression for this to happen, and this economy is strong right now, strong enough to raise rates.
“Consider this, she peaked when her seeder, Bill Hwang’s Archegos blew up. Is that a coincidence? She’s got a ticking time bomb and outflows are going to cause a downward price spiral in everything she owns a significant percentage of.”
Fast : In the negotiations with the Russians the US is demanding that Russia remove its troops from the border. These troops are on Russian soil. From the Russian perspective why would they be dictated to by the US, and who are we to tell the Russians what to do with their troops on their soil? If that’s what we are demanding, then yeah I can see the Russians saying the US is not serious, so we are going in.
Could you for one second realize that this is a gift the more it goes down? Why can’t you understand this? You think Zoom is overvalued right now? You think Coin is overvalued right now? Come on, man.
BRT says:
January 12, 2022 at 8:58 am
A 5 year time horizon is useless when you are forced to unwind all your positions due to outflows.
Closest you would come to Hmart would be Super Asia in San Jose. There is a mom and pop Korean store in Chinatown too. Yes, there’s a Chinatown in San Jose.
Lib,
Like many, I have tons of connections in big banking and LinkedIn shows nearly all of them moving to latest payment tech company or crypto blockchain firm. This is 1999 all over again. I have no doubt that it will explode and leave giant hole in NYC IT market.
Lib: A couple of good Irish pubs in San Jose, CR according to my brother who was in CR and Nicaragua a few years ago. He said Nicaragua was one of the poorest most depressing places he has ever visited; he was impressed with CR.
All based on high inflation through the decade. Dream on. This guy has to understand that the “old economy” is a value trap. It’s going to be destroyed by disruptive innovation.
“In this sort of environment, do you think anyone wants to own a SAAS stock at 30-times revenue that’s roughly breaking even—but growing revenue at 20% a year? Who’s going to subsidize this growth? The cost of capital is about to explode because inflation is about to explode. Interest rates are going to lag, but they’re also going to surprise to the upside. Look at the Tiger-40 and think about where it will trade in the coming environment. How much downside is there if a SAAS stock is valued at 10 times next year’s after-tax, after options, earnings instead of the make-believe-accounting they use currently. I remember buying software in 2002 at a discount to that value. It can return there. I remember them valuing un-built copper mines at 20 times projected profits in 2007. It can return there. We’re about to have one of the largest sector rotations that anyone has ever witnessed. It will start slowly, then accelerate. One week, out of the blue, the spread between the “old economy” and the Tiger-40 will blow out by 2000 basis points. That’s my prediction. Copious leverage and crowded positioning will create an epic move. Here’s my other prediction—the overall market will sort of shrug its shoulders. The money will just slosh from one side to the other.”
njtownhomer says:
January 12, 2022 at 12:32 am
just want to put as reference, Kuppy called it on Jan 3 just before ARKKarnage started.
https://adventuresincapitalism.com/2022/01/03/the-great-rotation/
Another good call of his.
The two compounds commonly found in hemp — called cannabigerolic acid, or CBGA, and cannabidiolic acid, or CBDA — were identified during a chemical screening effort as having potential to combat coronavirus, researchers from Oregon State University said. In the study, they bound to spike proteins found on the virus and blocked a step the pathogen uses to infect people.
The researchers tested the compounds’ effect against alpha and beta variants of the virus in a laboratory. The study didn’t involve giving the supplements to people or comparing infection rates in those who use the compounds to those who don’t.
Hemp is a source of fiber, food and animal feed, and extracts are commonly added to cosmetics, body lotions, dietary supplements and food.
This is the future. You can’t stop it. You see it happening, but refuse to acknowledge it. Instead comparing it to 1999 which it is not.
Bystander says:
January 12, 2022 at 9:26 am
Lib,
Like many, I have tons of connections in big banking and LinkedIn shows nearly all of them moving to latest payment tech company or crypto blockchain firm. This is 1999 all over again. I have no doubt that it will explode and leave giant hole in NYC IT market.
3B – Ukraine is screwed. Ground is now frozen and they are outmatched and alone in any fight.
Lib,
Naah, just a typo. Not that “woke,” way too tired for that. Covid is tripling our workload along with fewer staff. Meeting with co-workers this Friday that have turned in more resignations.
Young, smart, talented and hard working. But not putting up with Boomer/Corporate bull. Everything planned. And funny. Great kids. Wishing each and every one of them the best. Again.
3b,
Agreed. I really hope senile Joe doesn’t send any of our kids to die over there for no reason.
Hillary smells blood in the water. She is sending now out her operatives this week to get some press for her attempted comeback.
WSJ Opinion piece (written by Clinton operative Douglas E. Schoen)
Hillary Clinton’s 2024 Election Comeback
Joe Biden and Kamala Harris have become unpopular. It may be time for a change candidate.
Joe Biden and Kamala Harris have become unpopular. It may be time for a change candidate.
By Douglas E. Schoen and Andrew Stein
Jan. 11, 2022 12:28 pm ET
“A perfect storm in the Democratic Party is making a once-unfathomable scenario plausible: a political comeback for Hillary Clinton in 2024.
Several circumstances—President Biden’s low approval rating, doubts over his capacity to run for re-election at 82, Vice President Kamala Harris’s unpopularity, and the absence of another strong Democrat to lead the ticket in 2024—have created a leadership vacuum in the party, which Mrs. Clinton viably could fill.”
“She is already in an advantageous position to become the 2024 Democratic nominee. She is an experienced national figure who is younger than Mr. Biden and can offer a different approach from the disorganized and unpopular one the party is currently taking.
If Democrats lose control of Congress in 2022, Mrs. Clinton can use the party’s loss as a basis to run for president again, enabling her to claim the title of “change candidate.”
https://www.wsj.com/articles/hillary-clinton-2024-comeback-president-biden-harris-democrat-nominee-race-2022-midterm-loss-11641914951
Phoenix – If Putin decides he is not appeased it’s already too late to send anyone over there. Ukraine has a force of only 125 aircraft that are no match for a Russian aerial onslaught launched from a dozen nearby airbases. We should know within the next week or two as the ground is now frozen, if there will be a war. I do however doubt Putin really wants to roll 1200 tanks and thousands of other heavy mechanized armor, it may make him unpopular at home.
For those that get covid and need treatment, think very carefully about where you go in NJ. Apparently, they aren’t allowing people to get steroidal treatments and are being denied antibodies as well. Wtf is going on?
JB,
True, but America is known for sending in small groups of “disruptors.”
And there may come a day when China is able to convince Cuba (with enough money) to have some of their “hardware” close to America.
BRT
It’s all a big conspiracy. And all of us in the medical community are in it.
Why do you think I pay Cathie instead of investing in individual stocks. She knows her sh!t. She is really good at what she does. She runs etf’s that are highly concentrated and actively managed, exactly what you need for this space as you describe in the entire post. Remember, it’s going to be volatile, that’s why it’s so rewarding and high risk. Not going to be straight line up and at times will test your ability to hang in.
“Merrill Lynch analyst Henry Blodget, one of the leading bulls on Web stocks, warned about a shakeout in the Internet industry in a 330-page report issued last June.
“As the shakeout continues, we continue to believe that the Internet spoils will go to the few, not the many,” Blodget wrote. “As one investor we respect put it, anytime a new industry emerges, many turtles hatch, few make it to the sea.””
Lib and Pumps.
Regarding the never-ending blockchain story, sure it’s not dot com 1.0, we can agree as well that was a quick bubble that imploded. This one is still in the experimental phase after 12 years.
VCs are pushing lots of blockchain startups. However they do not have an endless timeline and endless pockets. But the enterprise software companies that do?
Microsoft shutdown their Azure Blockchain in September, they simply could not give it away. Same true for many enterprise software companies as well enterprise customers have not adopted it much.
Here is a more nuanced take from the CES conference on the current state.
https://www.informationweek.com/fintech/fintech-s-future-through-the-eyes-of-ces
BRT
Take a trip to Mexico.
Look for “La Pharmacia”
Buy whatever you want. No doctor required.
America has laws. We like laws. We like lawyers. We like lawsuits. We like enforcement of laws 90 percent of media is about laws, lawyers, and enforcement. It makes Americans moist.
And they like to break laws, makes them feel like “mini outlaws.” Americans want laws, but like to pick and choose the ones they feel are good, and dismiss the ones they don’t like.
She is really good at what she does. I’ve never seen anyone catch that many falling knives.
https://www.marketwatch.com/story/cathie-wood-is-expecting-a-bloodbath-in-this-segment-of-the-market-autos-are-one-exampleofmany-disturbances-out-there-in-the-world-order-11641932894
“By category, prices for used cars and trucks and shelter were the largest contributors to the headline increase. The used cars and trucks index rose for a third straight month and accelerated to a 3.5%. month-on-month rise in December from November’s 2.5% increase. This index was also higher by a marked 37.3% compared to the same month last year. Shelter prices rose 0.4%.”
Lib, watch this. Watch the part specifically about the data on used cars. She is very good at what she does. Can’t argue with the data she presents.
https://ark-invest.com/videos/market-commentary/january-7-2022-in-the-know-with-cathie-wood/
If this general nonsense continues 2023 may be the first time I buy a new vehicle.
Heads up: NJ’s very generous Charge Up EV vehicle rebate is being slashed from $5K to $2.5K and caps on vehicle prices are being introduced, but I understand that it will get funded for 2022/23.
Pumps,
She is a master marketer now.
What you are missing is that you too would have been brilliant to have invested in her fund. Right now, you are waiting for reversion to mean and assuming it’s going to happen again.
Take a look at the Japanese stock market and how long it took for them to recover after they printed enormous amounts of currency. Maybe, in 20 years, you can come back on Grim’s Meta Crypto Cyber Automated Green NJ ReReport Blog and tell us you were right.
No dufus, this is the result of free money looking for home. Read up on BNPL/pay services. It is insanely overcroweded and risky. Some may survive but not many when the Fed spigot is shut off and execs actually look at money as risk .
In many cases, there is good reason that these consumers are not being served by traditional credit providers. Passing this risk from banks and credit card providers to BNPL will ultimately only add a headache for those seeking to court these customers. As was seen in the housing bubble blow-up, the well-intentioned extension of credit to those that are simply not creditworthy can quickly cause serious problems.
Finally, BNPL is a target for abuse if not monitored closely by each of the companies betting on the space.
“BNPL companies assume huge amounts of risk – not just in collecting on payments but in instances of payment fraud,” Kevin Lee, Trust and Safety Architect at payment protection firm Sift, told Real Money. “As a result, BNPL vendors need to employ advanced filters and technology to weed out the use of stolen payment info and/or user credentials, particularly because the margins on pay-later transactions are low.”
In the end, big tech’s bets on the BNPL space are biting off quite a bit to chew and it will only digest the risks later. As such, a long-term view with cognizance of these risks is paramount.
Remember the turtles.
She has invested in every single turtle egg. Sadly, nature will only allow 3% of them to survive.
BRT, that’s messed up. Both my BIL and a friend of ours were feeling the effects of the Rona and the steroids really helped. Both wanted the monoclonal antibodies but there weren’t any available.
Phoenix I don’t know in detail what goes on in the medical profession but a lot of it certainly isn’t good. As you have indicated the orders come from above and the little people do what they are told. My mom’s friend who is a er nurse and was handling COVID patients was told us in 2020 that the hospital was basically a death sentence, they were instructed to ventilate these people and they would invariably die 95% of the time. It seems the medical treatment was dictated not based on what was likely best for the patient but what yielded the most money for the hospital. Most of the people were middle aged black men so of course they get away with it.
Think about how blockchain will impact real estate. You will be able to purchase it with a push of a button. No longer needing lawyers and other middle men to execute a purchase. The transaction will be legitimized on the blockchain. World is changing fast.
Juice Box says:
January 12, 2022 at 10:49 am
Lib and Pumps.
Regarding the never-ending blockchain story, sure it’s not dot com 1.0, we can agree as well that was a quick bubble that imploded. This one is still in the experimental phase after 12 years.
No, I am investing in the fastest growing companies that are the future. Disruptive innovation my friend. They have become a deep value based on short term noise surrounding inflation. Take advantage or don’t, your choice.
Libturd says:
January 12, 2022 at 11:13 am
Pumps,
She is a master marketer now.
What you are missing is that you too would have been brilliant to have invested in her fund. Right now, you are waiting for reversion to mean and assuming it’s going to happen again.
that’s been standard procedure forever. Old person comes in after fall, automatic feeding tube, watch them decay. My father, who is a physician has always said, you don’t go to the emergency room to get treated, you go there to die. I’ve been there, watching people bleed profusely while the nurses sit there and play cards telling them the doctor should be here in a few hours.
WRT to Rona, we have all kinds of treatments that work. They aren’t using any of them. And the few doctors that do, try to do so in secret to avoid attention.
I have taken advantage, I’ve shorted a dozen of her stocks with a 100% success rate
Pumps,
Guess what most of the morons were invested in when the market crashed prior to the great depression. I dare you to research it.
pumps you are high…blockchain for “real estate purchases”. Physical property is a little for complicated, conveyances usually have quite a bit of nuance. Moving the money has never been an issue but things like quality of title, possession of the property, issues surrounding condition, escrows until the transaction is settled, or the fact that the vast majority of buyers get a mortgage that has a litany of bank and government regulations.
The block chain application we have not yet seen is debt and equity offerings. If not for all the financial regulation technology has the power to transform finance. In the mind though of someone hoping to exploit it for these purposes the distributed nature is a drawback. The proof of work is novel but incredibly wasteful.
BNPL.
Peloton exists because of Affirm.
Someone a few months back told me how much affirm is floating for peloton customers.
It was a staggering amount.
Blockchain for real estate won’t exist because trying to get tens of thousands of municipalities and counties to adopt a single system of record for titles, liens, judements, claims, etc etc is near impossible. Likewise attempting to digitize more than a hundred years of title paperwork is nearly insurmountable.
There is a reason title insurance is required, it’s because of this mess.
Could it work? Sure.
Would it?
Not in the next 20 years.
And just because you could transmute the paper to blockchain, wouldn’t mean anything, because the blockchain title records wouldn’t supersede the title paperwork filed in the clerks office, period, end of story.
Grim,
https://www.forbes.com/sites/forbesbizcouncil/2021/10/27/the-future-of-real-estate-transactions-on-the-blockchain/?sh=7b78bd104938
Grim my point exactly and there isn’t any motivation to change the process. Heck even standardizing and digitizing these processes would be a huge step forward and that is something we could have done 20-30 years ago but yet the process remains byzantine.
Guys, if you think someone in 1999 thought they would be able to send someone money through their phone, they would have laughed at you. Guys like Musk with paypal already saw the future.
“My father, who is a physician has always said, you don’t go to the emergency room to get treated, you go there to die.”
I know physicians like this, we avoid them.
There are countless numbers of people that live thanks to the work of the ER staff and others in a hospital.
Ask any of them if they aren’t happy they were helicoptered in.
There are countless numbers of people that live thanks to the work of the ER staff and others in a hospital.
Goes both ways. Fact of the matter is, they are withholding treatments to people as we speak. Maybe they are forced into it, but it’s still disgusting.
My RE agent just called me from the UK. Long story why she’s there.
She claims the multi market is flaming hot in Montclair. Claims she could probably get a million for my place.
It’s a bubble folks.
Will probably let her list it again. No harm, no foul.
Fact of the matter is, they are withholding treatments to people as we speak.
If you consider yourself a capitalist, then consider yourself as part of the problem.
Cause that is what this is, a money/class/status issue.
America is not a moral country, it is a financial one.
Suck it up, or move to Costa Rica. Cause it’s not going to get better, it’s going to get worse as care is rationed in America.
Musk, Bezos and their ilk will have no problem getting any treatment they want. They could probably have you deleted and your organs removed if they wanted them.
Not saying companies won’t try, not saying there isn’t a billion dollars waiting to be made selling this bullshit to counties all across the US.
Will it actually replace paper? No.
Will it eliminate the need for title insurance? No.
Will it eliminate the need for lawyers to do title and judgement searches? No.
So then, what’s the point. What exactly are we ‘revolutionizing’?
Even in the revolutionized blockchain world. Upon closing of a real estate transaction, the closing agent will still file deed paperwork with the county recorders office, who will then take two months to add it to the blockchain, and still lawyers will sue based on the paper filings.
I remember when the big selling point of a Tesla EV was that you would be able to drive into a Tesla Battery swapping station and have a fully charged car to drive off in less time than it takes to refill an ICE gas tank?
Oh how the stories change.
Pumps I don’t think anyone was laughing at the concept at that point. What missed was the need for such a service, they didn’t understand ebay or the idea that millions of people would be conducting internet transactions with other individuals. Paypal basically exploited a weakness in ebay’s offering, they were the market place but had no provision for payments, paypal basically took the role of payment processor and escrow agent.
These crypto companies and the bitcoin bubble could be the fuse for the next great crash….
Please explain to me the advantages of crypto over fiat currency?
Lib,
I just wanted to point out something with Cathie. Zillow changed their plan, and how did Cathie react? Did she double down (buy the dip) or abandon them? Same with chinese stocks, how did she react. That’s telling. She really does know what she is doing. Why people hate her and bash her is beyond me.
But like I said, it’ll be great business. Get some big muscle behind it and they could probably lobby to get it enshrined in law – “Modernization” – and then profit mightily from it.
Probably half the counties in the US don’t even have deed paperwork in a digitized format.
Blump, you don’t get it..being able to pay over your phone is not inherently different than using old Western Union..or then paying bills by phone..or then by computer. The process is still same. It just got more convenient. Blockchain for real estate is entirely different premise. We can’t even push chubby realtors out of the way taking insane 5%-6% from start for doing practically nothing.
BRT,
How much do you think your life is worth, in dollars?
Or your family members.
Or a homeless person in San Francisco?
Is that amount the same?
Pumps – transforming real property ownership? Not a hill anyone sane wants to die on.
I have attended many lectures on the subject over the years. I can tell you right now again it’s still experimental after a dozen years of hearing pitches about where it can be transformational. There is still less than 1% adoption in places where blockchain might even be useful. You are now talking about replacing antiquated government processes to update deeds recorded in the public records in the county where the property is located with a blockchain. I won’t even mention a decentralized blockchain at this point, because that is not even needed.
In my humble opinion deeds is the last place it will be perceived of any real value that can be quickly monetized by any venture capital fund. Absolute ownership of real property is codified and enforceable by law, chain of title documents and curing title issues that make it immutable already. Anyone who wants to change that process written in Federal, State and local laws and replace it with a blockchain has a long steep hill to climb. This would be one of those things you can say sure you can see it just there on the horizon. We can sail towards that horizon, but can you actually get there is the question.
Here’s the part I really don’t get.
Investing in Bitcoin is like exchanging your fiat currency for say Euros. The only difference being is that the currency is not physical. It is a digital string of characters. Now I can store my Euros in bank and it is secured by the country the bank is located in. The value of the Euro will fluctuate based on how well Europe is doing economically. What is the value of Bitcoin based on? How much the next guy is willing to pay for it.
I think I’ll stick with my fiat. Even if our government is a corrupt POS.
lib, sell, sell, sell. The housing markets are bizarre, if you can get a million I’d sell. The stuff I see listed is priced like the currency is mexican peso’s not dollars. Unless you have fcf of 30k or more at the moment a million in hand vs. being subject to the whims of governor rent moratorium Murphy. I love real property as an investment but not at the levels we are seeing.
We can’t even push chubby realtors out of the way taking insane 5%-6% from start for doing practically nothing.
Doing nothing? They help women shop for houses their husbands don’t want in order to get the wives what they want, and a profit for themselves.
Realtors are probably responsible for 20 percent of divorces in America due to the financial hardship they have placed on American men.
Technically, you could argue that the county recorder’s office is a blockchain of sorts already, just one that’s one executed manually. Title insurers are like the crypto miners, who are certifying transfers. They operate similarly to proof-of-stake today, they take a network fee for validating the transaction.
Couldn’t agree more JCer. I need to sell within the next year and a half anyway. Plus, 5 interest rate increases in one year can not be good for the future of the housing market.
btw, Phoenix, my father is an awful person of questionable character. I have almost zero relationship with him at this point. But he was a good doctor. He butted heads with administrators all the time and saved the lives of thousands of premature babies by doing so. When they finally canned him because he didn’t follow their marching orders, they brought in a new guy who lost more babies in his first two years than he did 15 years prior. The nurses all left out of fear of getting sued.
Reuters
UPDATE 1-WHO body says COVID-19 vaccines may need to be updated for Omicron
Ahhh, very astute observation from the geniuses at the World Health Organization.
Lib,
Too bad your house wasn’t in Wayne. It would be worth 50 million. 😂😂😂
“administrators ”
Bean counters.
Well, you may not want to put a dollar value on your life, or the lives of your loved ones.
But somewhere, somewhere, a bean counter has done just that.
My iPhone covid exposure notification went off this morning.
Looked at the timing of it. Says I might have been exposed 11 days ago.
Totally useful.
At this point, your phone should be telling you that you might not have been exposed 11 days ago.
Tesla Battery swapping lol..
Why on earth would they do it for the cost of an oil change?
Today Tesla makes a fortune today swapping the battery packs. They won’t even service the battery pack and change a few dead cells, you must replace the entire battery pack at a cost of $22,500 for a Model S.
Case in point.
https://electrek.co/2021/12/23/tesla-owner-blows-up-model-s-dynamite-battery-replacement/
Lib,
You have the powder. Join me on the contrarian side. Let’s find this bottom in ark funds over the next 2 years and go to work. I will be patiently waiting.
At this point, your phone should be telling you that you might not have been exposed 11 days ago.
NJ says I should quarantine. I’m not sure it’s even worth wasting a rapid test.
re: iPhone covid exposure notification.
I was in a Starbucks at a mall yesterday for about six hours with some friends working on a project. If I don’t have Rona by now I will never get it. Not a single notification yet, my iPhone must have downloaded a list of all recent broadcast beacons by now…not even a whimper, perhaps I will have an onslaught of notifications next week.
Hold my wine or Hold my vodka?
Hold my beer says:
January 12, 2022 at 9:18 am
Libturd
Are there any hmarts in Costa Rica? Asking for a friend.
Well, I work in an environment where almost everyone has/had Covid, are forced to come back to work early, where patients come in with broken bones only to find out they have Covid and never knew.
Good times!
You could just ignore all of that and use a system like MERS. But seriously, you are correct. Regarding the scam that is title insurance, if the government is responsible for maintaining the records, they should stand behind them (e.g. Iowa).
grim says:
January 12, 2022 at 11:35 am
Blockchain for real estate won’t exist because trying to get tens of thousands of municipalities and counties to adopt a single system of record for titles, liens, judements, claims, etc etc is near impossible. Likewise attempting to digitize more than a hundred years of title paperwork is nearly insurmountable.
There is a reason title insurance is required, it’s because of this mess.
The Great Pumpkin says:
January 12, 2022 at 9:47 am
All based on high inflation through the decade. Dream on. This guy has to understand that the “old economy” is a value trap. It’s going to be destroyed by disruptive innovation.
Please read the following………………..
MARKETS
HEARD ON THE STREET
Elizabeth Holmes Can’t Be the American Dream
Silicon Valley’s fake-it-till-you-make-it ethos has bled into U.S. startup culture writ large
By Laura Forman
There has long been a stereotype of Silicon Valley venture capitalists as those who chase narratives rather than numbers. Lately, the notion has permeated the masses.
Last week, fallen biotechnology founder Elizabeth Holmes was convicted of defrauding some of her blood-testing company’s biggest investors. A so-called startup, Theranos at its peak was valued at more than $9 billion and, as of 2018, had raised over $1 billion, according to PitchBook, despite giving inaccurate blood-test results to some patients who have said they were falsely told they had HIV or cancer. Ms. Holmes was found not guilty of four charges involving patients.
Still, the mixed verdict rubbed some of Silicon Valley’s elite the wrong way. Billionaire venture capitalist Tim Draper said in a statement to CNBC last week that the verdict made him “concerned that the spirit of entrepreneurship in America is in jeopardy.” In a similar statement to The Wall Street Journal, he said that if the same level of scrutiny were applied to every entrepreneur trying to make the world a better place, “we would have no automobile, no smartphone, no antibiotics, and no automation,” noting he still believes in what Ms. Holmes was trying to do.
That Mr. Draper, whose fund was an investor in Theranos, would continue to evangelize a founder his firm backed isn’t altogether surprising. But even some of the very people who convicted Ms. Holmes seem to support her. In an interview with ABC last week, one of 12 jurors who worked on the Holmes case said it was tough to convict somebody “so likable, with such a positive dream.”
The American dream was supposed to offer everyone with ambition a chance to roll the dice. These days, founders seem to feel it entitles them to do it with other people’s money, and even lives. According to a recent report from CB Insights, there were 936 private companies valued at over $1 billion globally as of last year. More than half of those are U.S.-based and 51% achieved unicorn status in 2021. The environment could hardly be more fertile.
For better or for worse, regulation has in some ways furthered the fake-it-till-you-make-it culture. The Jumpstart Our Business Startups Act was signed into law in 2012, lowering disclosure requirements for companies with less than roughly $1 billion in revenue. It also broadened access to crowdfunding and expanded the number of companies that can go public without going through Securities and Exchange Commission registration.
And 2021 saw a record 613 IPOs by way of a blank-check merger, or a special-purpose acquisition company, according to SPACInsider, more than 10 times the number in 2019. A company going public via SPAC can bypass the traditional review process as well as an investor roadshow. It can attract public investors based on numbers it believes it can one day achieve, rather than those it already has. In many ways, it is the epitome of what too much American entrepreneurship has become: a blind-faith bet on a team of big-name investors to choose a story that will be widely bought, even if the product never is.
Even companies that have recently followed the more rigorous path to a public listing have thrived on narrative. Rivian Automotive now has an $85 billion fully diluted market value; as of Sept. 30, the electric-vehicle maker had generated roughly $1 million in total revenue. Peloton Interactive sold investors on a fantasy that financing and the internet could render its multithousand-dollar hardware both accessible and affordable, thus revolutionizing fitness through “democratization”—no matter that running and walking outdoors has always been available and free to all.
The definition of “entrepreneur” implies the founders of a company take on a disproportionate amount of risk. Often, though, it is their believers who bear the ultimate burden. Theranos isn’t the only case in which the harm has been more than pecuniary: Formerly known as Facebook, Meta Platforms was once known for moving fast and breaking things. Investors prospered, but today many of its consumers are suffering the effects, whether it is teens harming themselves or older people endangering their lives after reading and sharing vaccine misinformation.
Founders seem happy to capitalize on regulatory loopholes. Investors overzealously pour money into ideas well before they come to fruition. And even today’s consumers are rushing to bet on meme stocks, nonfungible tokens and fringe cryptocurrencies they don’t all necessarily understand. Who could blame them? In a recent ad for Crypto.com, actor Matt Damon tells viewers “fortune favors the brave,” while visuals alongside him suggest investing in a cryptocurrency app is akin to an astronaut venturing into space or a 15th-century explorer setting out to America.
A Journal article earlier quoted one venture capitalist predicting the Holmes verdict would at least “serve as a reminder [for investors] to do due diligence.” Another wagered it would have “zilch effects” on startups.
Silicon Valley is worried about the fate of American entrepreneurship. It should be.
Juice: Apparently, if the Russians are going to invade has to be before March when ground starts to thaw and tanks get bogged down. I do feel sorry for them, but wanting to join NATO and the EU, and the West seeming to encourage that was a disaster.
Radical Capitalism:
” Investors prospered, but today many of its consumers are suffering the effects, whether it is teens harming themselves or older people endangering their lives after reading and sharing vaccine misinformation.”
And here is a guy who fakes an engine failure and purposely crashes an airplane for “likes” and profit on You Tube.
https://youtu.be/vbYszLNZxhM
Phoenix: I don’t want Americans sent there to die, and I don’t think Americans would support it. I removed years ago O Reilly was rah rah let’s invade Iraq. He had a guest on who I don’t recall who asked O Reilly if he believed in the Iraq war would he encourage his Son to go, O Reilly would not answer the question directly, he kept saying he would go! He was in his 50s at the time so such a BS answer!! These old boomers who advocate the young working class , minority kids should go and die in these foreign lands, but of course not their kids!! Typical mindset of some of these old boomers!!
Are they serious? WTF?
Audi board chairman Markus Duesmann told company executives and labor leaders last week that the company “will stop introducing cars based on petrol and diesel engines from 2026.”
“Sometimes the market can remain irrational and I’ll say what’s going on right now is irrational,” Wood said in a video posted on Ark’s website.
“We’ve been through a very difficult time since the significant rotation from growth into value started nearly a year ago in mid-February, and I want you to know that we’re in there with you.”
Looking at the biggest holdings in Ark Innovation, No. 1 Tesla (TSLA) – Get Tesla Inc Report actually has gained 25% over the past year. But No. 2 Zoom Video Communications (ZM) – Get Zoom Video Communications, Inc. Class A Report has dropped 53%, No. 3 Teladoc Health (TDOC) – Get Teladoc Health, Inc. Report, has plunged 65% and No. 4 Roku (ROKU) – Get Roku, Inc. Class A Report has given up 57%.
The stocks have suffered amid valuation concerns and rising interest rates, which make their earnings streams look less valuable compared with investments like Treasury bonds.
Wood says her companies are coming back. “Keep your eye on that prize,” she said. “If we’re right, the technologies around which we have focused our research, those technologies, we believe will compound in terms of revenues and earnings for the companies involved,” Wood said.
First-quarter-earnings reports could help, she said. “As we see these earnings reports coming in, and the guidance for the first quarter and this ’fessing up out there into what’s really going on with inventories, we’re going to see the turn sooner rather than later.”
3b
You nailed it. It’s easy to act tough, then send someone else to do the job that you “think” needs to be done.
Boomer mentality.
Who can pull this off?
Maybe Ex with the hot as the sun wife perhaps?
https://bit.ly/3zZaczp
4. New Jersey
One percenters in New Jersey must earn at least $760,462, while the cutoff to land in the top 5% is $308,976. The top 5% pay 56.23% of all income taxes in the Garden State.
What goes up must come down:
“CVS Health recently shuttered one of its New Jersey stores as part of a plan to close hundreds of locations by 2024.”
The Teachers and Police of NJ want to thank you for your dedicated hard work and contributions.
The top 5% pay 56.23% of all income taxes in the Garden State.
The manufacturing and ultimately, destruction of these vehicle batteries is better for the environment than petroleum-based products. Do I have that right? Because, stripping the earth of the resources required and having the dead components leeching into the earth is a product of a greener, healthier globe. Correct?
Eddie,
Leave Musk alone. He has a hard life.
Yes eddie, because 8 year old Teslas catastrophically fail right outside of warranty vs. even unreliable ICE cars which can easily last 10 years or more. Just look on the road how old some of the cars are, EV’s only mean those folks no longer can afford to own a car. Even if EV prices drop precipitously the extremely used market is just not a reality.
The intention of EV’s is not to reduce emissions by having everyone switch. It is to reduce the number of vehicles on the road.
And how is the electricity being generated to supply all the “filling” stations?
I agree in the sense they want to eliminate drivers from the road. They want robotaxies to drive us around, they don’t trust humans behind the wheel of vehicles.
“The intention of EV’s is not to reduce emissions by having everyone switch. It is to reduce the number of vehicles on the road.”
eddie what about the infrastructure? Think of the environmental costs of expanding the grid, building power plants, etc. The only conclusion I can draw is vehicles for a small group and everyone else is forced to mass transit. That is the real goal of EV’s.
It’s incredible how fast this just keeps compounding.
chicagofinance says:
January 12, 2022 at 1:06 pm
4. New Jersey
One percenters in New Jersey must earn at least $760,462, while the cutoff to land in the top 5% is $308,976. The top 5% pay 56.23% of all income taxes in the Garden State.
Chi it sucks but so far Jaguar is bowing out of ICE cars, next Audi, I imagine BMW and Mercedes are next. It figures only the Japanese are smart enough to see it for what it is, both Honda and Toyota do not seem to be abandoning ICE cars. The Euros seem to exiting the ICE game which is a shame because they really do have quite a bit of good technology and IP in that area.
https://www.nj.com/opinion/2022/01/understaffed-underpaid-and-overwhelmed-university-hospital-nurses-carry-on-through-omicron-surge-opinion.html
Jcer,
Bmw seems to be holding out, but I don’t know for how much longer.
Toyota is betting on hydrogen. See what happens.
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3b,
No revelation but if every young man and woman served in the miltary two years after graduating HS, our nation would think a lot longer and harder as to which military conflicts we got involved in. Kids from different backgrounds would get to know one another as opposed to now where they likely never meet.
This guy is a former seal: https://twitter.com/DBarkhuff/status/1480013957607964672
For Phoenix:
https://youtu.be/9rNz_eiex5o
Adventure In Capitalism had somewhere in their website commentary that we would see gas prices ramp significantly in order to accelerate the transition to EVs with big financial firms financing the EV nfratructure spend.
Robo taxis mean big volume reductions for major auto manufacturers, no? GM et al love EVs because they are much more profitable, easier to assemble (read less union labor).
Environmentally the batteries will be a nightmare.
One thing puzzles me, we are supposed to be energy independent yet when the Saudis recently reduced output, gas prices jumped a lot. Also, with EVs, while we would in theiry be less energy dependent on SA, won’t we become energy dependent on China with EVs since they only place to get rare earth metals for the EV batteries is from them?
Toyota and Honda have not given up on hydrogen fuel cells which I think are they holy grail in terms of clean energy for cars with almost no emmissions. BMW I believe in Europe is going Hydrogen fuel cell in all their SUVs. Daimler truck for sure is doing this in Europe. Cummins Wesport has over the road hydrogen truck engines and Amazon bought 1000 to test out their capabilities.
My memory apparently wrong but they are getting into the game.
https://www.autoweek.com/news/green-cars/a33414795/bmw-will-offer-hydrogen-fuel-cell-x5-suv-in-2022/
No Greenhouse Gas Emissions
https://www.ttnews.com/articles/cummins-add-15-liter-natural-gas-engine-lineup
Green CarReports Aug ’21
Toyota announced that it plans to make hydrogen fuel-cell modules in the U.S., starting in 2023.
The fuel-cell stacks, in modular form, will be part of a kit that will essentially replace a traditional heavy-duty diesel engine in big Class 8 semi trucks. The system is capable of delivering up to 160 kw (214 hp) of continuous power.
Although passenger vehicles aren’t mentioned here, hydrogen fuel-cell technology was part of the “shared aspiration” of automakers to achieve 40% battery electrics, fuel-cell vehicles, and plug-in hybrids by 2030.
This is the first time such a fuel-cell setup has been built by Toyota outside of Japan, and the plant it’s to be made in currently builds the Toyota Camry and Lexus ES—both offered as hybrids. With the discontinuation of the big Avalon sedan, fuel cells will essentially take its place.
The entire kit includes a high-voltage battery that acts as an energy buffer, electric motors, a transmission, and hydrogen storage tanks, and the fuel-cell modules themselves weigh about 1,400 pounds, according to Toyota.
Toyota hydrogen fuel-cell kit, to be assembled in Kentucky
The system can deliver 300 miles of range at a full load of 80,000 pounds, “all while demonstrating exceptional drivability, quiet operation and zero harmful emissions,” said David Rosier, the powertrain head of Toyota Kentucky.
“The Teachers and Police of NJ want to thank you for your dedicated hard work and contributions.
The top 5% pay 56.23% of all income taxes in the Garden State.”
I bet with all of the Covid overtime, a lot of those police are in the top 5%.
Boomer talk:
Didn’t see them wanting it when they were young.
“No revelation but if every young man and woman served in the miltary two years after graduating HS, our nation would think a lot longer and harder as to which military conflicts we got involved in. Kids from different backgrounds would get to know one another as opposed to now where they likely never meet.”
“Why does everyone obsess over 2021 with ARK….like wtf?”
Because that was the year you were pumping it, pumpy.
Also because the start of 2021 was when dummies like you had put the most money into it.
I’ve read that on a dollar-weighted basis, ARK has lost people more money than it’s made. Thanks to crap performance in 2021 and early 2022.
That’s how bubbles and pyramid schemes work, btw. Earlier winners pull in trend chasers, who bring in even more money, until it falls down leaving net losses on average for all.
BMW and other carmakers have been playing with hydrogen for a long time, at least 20 years, but hasn’t caught on because it’s just not economical. Beyond the infrastructure problem, hydrogen has other big problems. Namely hydrogen is expensive and/or dirty to produce. The dirtiest hydrogen is coal-fired.
So while it’s clean out the tailpipe, at present it’s either dirty to produce or it’s exorbitantly expensive to produce in a “clean” way. So like batteries it’s better to think of hydrogen as energy storage rather than an energy source.
If it was cheap, it would already be a dominant fuel for vehicles. But it’s not, even when produced with dirty energy.
Joyce,
Disturbing. Not surprising in the least. Expect this to increase.
I’m so glad that the top 1-5% don’t mind spending their money paying for these taxpayer lawsuits. Guess they enjoy it.
“Guilty until proven innocent.” “If that’s how it feels”
“That’s not how I feel, that’s how it was.”
I share his sentiment.
I hope he gets millions. Thanks for the vid, Joyce.
“Old person comes in after fall, automatic feeding tube, watch them decay.”
Did your father work with Josef?
I don’t see that where I work, or anyplace where I have worked for the last 30 years.
Guess I’m high class after all. Never knew.
South Park for those of you who are a little crypto curious.
https://www.youtube.com/watch?v=N8f-BQFo7lw
Chifi,
That basically means they are going to phase out new internal-combusion-only model introductions after 2026, and those cars could still sell new for another 4-5 years beyond 2026. So basically just going to finish up one more generation of cars. Basically one last round of new models over the next 4 years and then new models will be hybrids or BEVs. Lots of premium brands are moving this way, but VW group has been pushing this way big because they were the biggest cheaters on the diesel scandals of about five years ago. Who knows if their EVs will be good but the car companies know that the premium buyers are more able to cover the higher costs of EVs and also tend to have the luxury belief systems that make them desire paying up for EVs
Car makers will build what is profitable.
That’s it.
Unless someone forces them to do otherwise. And that isn’t happening because the American Government doesn’t work for its constituents. It takes payoffs.
VW wouldn’t even exist if it wasn’t for the British and their concern for the “normal” German people.
And American corporations were, and are, always dirty.
https://wapo.st/3fl0de9
When American GIs invaded Europe in June 1944, they did so in jeeps, trucks and tanks manufactured by the Big Three motor companies in one of the largest crash militarization programs ever undertaken. It came as an unpleasant surprise to discover that the enemy was also driving trucks manufactured by Ford and Opel — a 100 percent GM-owned subsidiary — and flying Opel-built warplanes. (Chrysler’s role in the German rearmament effort was much less significant.)
When the U.S. Army liberated the Ford plants in Cologne and Berlin, they found destitute foreign workers confined behind barbed wire and company documents extolling the “genius of the Fuehrer,” according to reports filed by soldiers at the scene. A U.S. Army report by investigator Henry Schneider dated Sept. 5, 1945, accused the German branch of Ford of serving as “an arsenal of Nazism, at least for military vehicles” with the “consent” of the parent company in Dearborn.
Corporations have no allegiance to anyone, any nation, any people, any morals.
Enjoy your stock market run while it lasts.
Phoenix,
Try buying a car, airplane, computer, smartphone, medical equipment, or pharma from mom & pop producers or governments.
Unless you want to live like a hermit in a cave, you might be a bit more appreciative.
There are better and worse companies out there. If you need a lot of people to cooperate toward producing economic goods, what else do you propose?
No one,
I bought about 13,500 this year. You and I both know that’s not much. I’m not down much money. I’m down around 4,000. What’s the big deal? It’s not like this fund isn’t going to change momentum in the future. It’s inevitable. And when it does, I’m going to hammer arkg.
The fact that something worse exists doesn’t mean something that is bad is no longer bad.
If a country declares war and the individuals of said country are pressed into service, is it too much to ask that the individuals owning/controlling/operating multi-national corporations declare an allegiance to one side?
Ex: the evidence suggesting Russian troops are amassing at the border of Ukraine is incorrect; we have found better information identifying the crowds….
https://youtu.be/HXrpjq2Br7E?t=1009
Bystander – re: ” Read up on BNPL/pay services”
We touched on this before and leftwing chimed in on the investment money being tossed that way..
Does anyone really need to finance a $10 item with a payment plan? Apparently so…
I dealt with a few of them Affirm, Afterpay ,Klarna, Snap etc.
Even dealt with a Brazilian one offering their services only in Florida for Brazilians who vacationed and made purchases there. That was an interesting one, no back end integration really or wire transfer payments. They had someone show up once ever other week with a printed check. Many stores in Florida were doing huge business with them pre-pandemic seems they loved Disney etc. The Brazilians would load up on merch and fly home with it in checked baggage etc.
Another tool option to add to the list. Actively managed.
“BOOM: Web3 ETF filed from Simplify w/ ticker $WIII”
https://twitter.com/ericbalchunas/status/1481304905256157184?s=21
When a gaggle of incumbents spend years claiming a disruptive technology is
niche,
too expensive,
can’t be profitably sold,
a marketing gimmick, and
that the customers don’t want it
And then pivot
The subsequent $10s of billions invested is usually very efficiently spent
https://twitter.com/wintonark/status/1481312406949167104?s=21
That’s a tweet from an ark analyst…savage.
Nomad: I agree. I know a few older Boomers who got college deferrals during the tail end of Vietnam war yet all rah rah, send American troops into Iraq and other places. At least in WW 2 Americans from all walks of life served.
No ETF has taken in more cash in the past week than $TQQQ. It grabbed 13% of the week’s net flows despite making up just 0.2% of total ETF assets as the locals bought the crap out of the dip (and it worked again)
https://twitter.com/ericbalchunas/status/1481269839238995972?s=21
Thought about sharing this as I’m going to get bashed, but I’m in the top 5% of income for nj. Aka I pay more taxes than 95% of the population in high taxed nj and most likely the country. So lay off teachers, I pay my share. 30k avg property tax paid over the last decade to the state of nj. So payed over 300k to the state of nj during my 30’s.
So do me a favor and lay off teachers. Instead of putting people down and demoralizing them, maybe if you made them feel good about what they are doing, they would work even harder. Wake up. If you don’t want to pay them, at least make them feel good instead of bitc!ing about summers off.
Documents suggest that the principal motivation of both companies during this period was to protect their investments. An FBI report dated July 23, 1941 quoted Mooney as saying that he would refuse to take any action that might “make Hitler mad.” In fall 1940, Mooney told the journalist Henry Paynter that he would not return his Nazi medal because such an action might jeopardize GM’s $100 million investment in Germany. “Hitler has all the cards,” Paynter quoted Mooney as saying.
Don’t worry,
Google, Apple, Amazon.
They are in bed with China. Don’t think they won’t sell America out any less than GM or Ford.
Keep flying the flag. Remember, you are the product.
Yup. Bloomberg pick a winner with this guy, he gets it.
“Most of ppl who trash ARK we know nothing about. Unlike ARK (which is 100% transparent) we nothing about these shadow-dwellers and/or the active strategies they are selling (for likely a high fee)”
https://twitter.com/ericbalchunas/status/1481449049710632961?s=21
We have a winner. Ding ding ding.
“Cathie didn’t make any mistakes in her investment style. If you believe “we invest with a 5 year horizon” thing, the one year sell off due to rates and taper should be nothing to an investor. Buy the thesis. That being said, I’m not a fan of ARK but I think the themes are right.”
https://twitter.com/anonymousstrat/status/1481454559625195520?s=21
KB Home, not exactly a luxury homebuilder, guiding average selling price for this year to $480-490k after being $451k in the most recent quarter:
https://twitter.com/conorsen/status/1481373647977828362?s=21
Yup
“All froth is out of the markets except one area…Value and large caps, known as “risk off” assets.”
You think this is over. How quaint,
All of the headwinds are still in place. Watch and learn.
Lib,
I’m with you. I exited out of the 401k. When have I took that position while posting on this blog. Nice correction coming.
Pumps.
I didn’t exit out completely. This is the proof of the gambler in you. I am still 30% long 70% out. I raise and lower my mix based on my personal expectations of the market. There is a 30% chance I’m wrong. All I stand to lose now is potential gains on 70% of my portfolio. Keep in mind, I didn’t go from 100% long to 30/70 overnight. I slowly made these moves over the last 6 months. First 25% and then additional 10%ish moves based on macroeconomic events. I already beat the indexes. I can go back to 100% long and will do very well, even if the market drops further. Or I can continue to adjust my long/stable percentages to minimize my losses on the downs, but I need to put some of it back in after the drops to capture those gains. I’m not there yet, but I can easily see myself shifting back to 40/60 or 50/50 if people keep buying the dips. Trust me, timing the markets is a fools game. This is only the third time I’ve tried it. It’s possible I got lucky the last two times. But I doubt it.
Lib,
It def is a fool’s game and adds a lot of stress for something that will most likely result in failure. I just feel like overall market is due for a pullback. I look at the chart and I don’t want to give all that money back. It’s been a hell of a run. Maybe people have no alternative and just keep piling into expensive stocks. It’s really hard to tell.
This one is really worth reading:
https://yourlocalepidemiologist.substack.com/p/state-of-affairs-pediatrics-and-omicron?r=hvben&utm_campaign=post&utm_medium=web
re: “Maybe people have no alternative and just keep piling into expensive stocks”
Nothing new here again…It has been this way for a long long time. The money printing to cause inflation has been around since Sept 2008 when Lehman collapsed. Bernake’s great experiment to inflate away out of our problems continues. Now we are sitting on 8 Trillion of extra money added to the economy. There are no buyers for this debt. We will inflate until the cows come home or we are all dead.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Pumps.
Your investment horizon will certainly impact your strategy. I am nearing retirement. My intent is not to brag, but my investments over the past six years have done wildly well. Not only did I beat my benchmarks, but I nearly doubled them in two of the past three. First, I expect my streak of luck to change. Second, pigs get slaughtered and I’ve been eating at the trough for way too long (just like your Ark builder). Third, as one approaches retirement, you must fade your risk and increase your diversification.
Plus, this bull is nuts.
GS predicting 4 rate hikes this year. It’s going to be very interesting
27% of a fifth according to Eddie Effelbein.
3B — re: “predicting 4 rate hikes this year”
It will be another tip toe trying to sneak around the markets to keep the baby from crying. A slow draining of Wall St all the while high inflation will continue…
Last time we did this there were four rate hikes in 2018,three in 2017 and one in 2016 and one in 2015 and all of those nine rate hikes combined over four years did was get us from 0.25% up to 2.25%.
What’s amazing to me is that the Fed started cutting the rates long before Covid even existed. Why did they make cuts in mid 2019?
The Federal Reserve is cutting interest rates for the first time in over a decade — a preemptive move aimed at extending the already record-long economic expansion.
The Fed on Wednesday lowered its target for the key federal funds rate by a quarter percentage point. The move should decrease the cost of borrowing, including for credit cards, auto loans and mortgages.
“The outlook for the U.S. economy remains favorable and this action is designed to support that outlook,” Fed Chairman Jerome Powell said. He described the rate cut as an insurance policy against potential speed bumps for the economy, including rising trade tensions and a slowdown in global growth.
“There is really no reason why the expansion can’t keep going,” Powell said. “Inflation is not troublingly high. If you look at the U.S. economy right now, there’s no sector that’s booming and therefore might bust.”
Although the rate cut had been widely telegraphed in advance of Wednesday’s announcement, the stock market reacted negatively to Powell’s comments. The Dow Jones Industrial Average fell more than 450 points before paring its losses to close down 334 points, or 1.2%. The S&P 500 and the Nasdaq both fell more than 1%.
Investors appeared to be concerned the Fed would pause after this rate cut, although Powell left the door open to additional cuts if economic conditions warrant.
In This Town, You Apply For A Job And You Get It
PROFILES OF AMERICA IN FULL EMPLOYMENT
In This Town, You Apply For A Job And You Get It
President Trump also complained that the Fed failed to signal more aggressive cuts.
“As usual, Powell let us down,” Trump tweeted Wednesday afternoon. “What the Market wanted to hear from Jay Powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive rate-cutting cycle that would keep pace with China, The European Union and other countries around the world.”
Powell insists the Fed will be guided by economic signals, not jawboning from the White House.
“We never take into account political considerations,” Powell said. “There’s no place in our discussions for that. We also don’t conduct monetary policy to prove our independence.”
The U.S. economy is still growing at a modest pace. And, at 3.7%, unemployment is near a 50-year low. But the central bank is concerned that trade tensions with China and slowing growth in other countries could put the brakes on the economy, just as many Americans are beginning to enjoy the benefits of a slow-moving recovery.
“My view is that the best thing we can do for those people is to sustain the expansion, keep it going,” Powell said.
And people want Fauci fired?
because, that’s their only tool. They have their hammer, and everything looks like a nai.
re” :not to brag, but my investments over the past six years have done wildly well”
Even a blind man could have not lost money in the last six years. S&P is up about 143% in the last six years.
S&P not adjusted for Inflation over the last six years
Total S&P 500 Return 143%
Total S&P 500 Return (Dividends Reinvested) 171.307%
However S&P Adjusted for Inflation
Total S&P 500 Return 106%
Total S&P 500 Return (Dividends Reinvested) 130%
What is it going to look like if we have 7% YoY annual inflation?
You will need to double your money to stay even over the coming six years.
Thanks Boomer.
Once again, you padded your pockets at the expense of the younger people.
And you think they should be grateful to you? For what, exactly? The drunken five minutes of pleasure you had creating them while screwing up the world they are forced to live in?
“Now we are sitting on 8 Trillion of extra money added to the economy. There are no buyers for this debt.”
Dedicated to the kielbasa crowd around here….
https://youtu.be/LnUYMiO8Tbc?t=287
Juice: True, but it’s psychological. 4 rate hikes in a year. And, to your point 4 won’t be enough.
Boomer,
Please tell us how this will help anyone younger than you unless there is something that they are going to inherit from you personally other than the debt you created.
Is this inflation going to help the youth buy a house, get a job, move forward in life in any way?
Is it leaving America in a better place than the way you received it?
Just wondering if history is going to show this as being positive or negative.
Oz Powell is a lap dog who can’t take heat. He is a joke but a current prez’s best friend. Cowered to Trump and Biden wants the same. Market clearly believes he is full of sh&t on rate hikes and will delay, delay, delay. Market goes up until he officially calls their bluff.
We clearly need another stimulus handout.. this time $400 per week. We need to have inflation rise from 7% to 10% so that we can tax the lower income folks even more.
Scares the hell out of me. That’s why I had to pull out. Maybe this time is different, but that’s some pretty insane gains over that time period.
“Total S&P 500 Return 143%
Total S&P 500 Return (Dividends Reinvested) 171.307%:”
Ed,
How’s the job hunt? I would love some feedback. I got alot of contacts this week. Ironically, it was from two of the heavy-handed RTO firms – Amex and Lazard. They are learning hard lessons about being arrogant a$$holes during pandemic. I told them not interested in commuting 3 days to NYC and don’t consider it flexible.
Bystander,
I’m in the same gig now for 8 years. No job hunt going on for me. You got me confused w. someone else? :)
Lib,
Good article. My daughter wants to be vaccinated, but her mother Satan is an abusive freak so she is too scared to get the vaccine when she is with me.
Like her father, she is a seeker of truth, and will not lie. The opposite of mommy. So she knows she will tell Satan, and that Satan will be angry and make her pay a heavy price.
Satan was forced by her employer to get the vaccine. I received mine when it was optional at the beginning. Satan refuses to take her daughter to get it. Well, when I got Covid, so did my daughter and Satan. According to my daughter, Satan shrugged it off while she suffered.
Satan also, at the beginning of Covid, tried to take my daughter away from me due to Covid using the legal system. Lied to a judge about my role at work. No penalty for her. Yet Satan walks in stores, her and the ilk that birthed her refuse to get vaccinated, but they claimed fear of it when in front of a judge.
So Satan and her embryo producers have a fear of Covid when they so choose for it’s benefits, but not in real life.
And these are religious people.
I not only want fauci to be fired I want him to be investigated and prosecuted if it can be proven that he broke the law.
He circumvented the law by using intermediaries to perform the gain of function research in China. Could be here to prove he broke the law since there are always loopholes and weeks like him know how to exploit them.
He clearly lied about it to congress though and that’s about slam dunk one he loses his political cover. Any non-swamp insider who did the same thing as him would be prosecuted aggressively for it. Just ask Roger stone.
That’s great…lol
chicagofinance says:
January 13, 2022 at 10:00 am
Dedicated to the kielbasa crowd around here….
https://youtu.be/LnUYMiO8Tbc?t=287
“I not only want fauci to be fired I want him to be investigated and prosecuted if it can be proven that he broke the law.”
And I want 10 million dollars in small bills delivered today.
We both have the same chance of getting what we want.
Welcome to America.
Not the popular answer, but the correct one:
“Gabby Petito should have been cited for domestic violence after she admitted to cops she was aggressor in argument with boyfriend Brian Laundrie – and the officers should now be suspended, independent investigator says
An investigator revealed that Gabby Petito should have been cited for domestic violence for being the aggressor in a violent argument with her boyfriend
Officers Eric Pratt and Daniel Robbins also reportedly should have been suspended for letting the couple go and not pressing charges
Under the Utah state law, Petito should have been booked into jail for being the alleged primary aggressor in her dispute with Laundrie”
I would settle for Fauci just retiring. He’s too egotistical even to do that.
That’s crazy to think about.
https://twitter.com/ejaychavez/status/1481532575214567426?s=21
“Biden sending troops to Michigan, New Jersey, New Mexico, New York, Ohio and Rhode Island next week to support emergency rooms.”
But can they chart? Do they know hospital policy? Do they know where anything is? By the time they get here and find out where to put their clothes Omicron will be a distant memory. Cause you just don’t walk into a place and know how things are done, it’s not standardized.
Now, keep them for 6 months and then it works well. Probably takes 2 weeks just to get a password on the computer.
“I would settle for Fauci just retiring. He’s too egotistical even to do that.”
Govt worker, like tenured teachers. They die in those posts.
Gotta max that pension and put it on the debt pile, since it isn’t being paid now.
Stop at a kindergarten, and glance at those kids. They will be paying Fauci’s pension the minute they get their first burger flipping job. Have some sympathy for them as this is what Boomer left for them.
We have schmingle dingle (Wet Monday) in nearly every community. It’s called the wet t-shirt contest at Hustlers.
Phoenix,
I can understand your bitterness with boomers, but in reality it should be with the public workers, aka police , firefighters, teachers, and all public employees. The politicians granted the crazy benefits to appease them and get re-elected.
My brother-in-law retired @50 ( police) pension of $55,000 with 100% free healthcare, a teacher friend @55 pension $45,000 with full healthcare.
I am still working@ 70, your beef is with a certain group of boomers… not all of us. I am pretty sure you will not be working @ 70.
Politicians and public unions have f**k** us all, but lets put Murphy back in.
Goat,
You are just upset that Faici made the Orange Morons newly appointed Consigliere (Rand Paul) look like a complete tool in front of the Senate.
https://www.independent.co.uk/news/world/americas/fauci-rand-paul-moron-covid-latest-b1992060.html?jwsource=cl
The Newark skyline will get a whole lot taller, now that the Central Planning Board has approved a massive redevelopment plan for construction of 11 high-rise towers and 4,200 apartments at the Newark Bears stadium site.
https://www.nj.com/essex/2022/01/transit-village-with-4200-apartments-to-replace-newark-bears-stadium.html
NP Ed. Thought I read that you were going to explore market last week.
” wet t-shirt contest at Hustlers.”
Speaking of which, did I hear Spearm*nt R*ino is opening in NYC..during a pandemic? I had crazy night there in Vegas, post divorce that I can’t tell here.
Here is one for Phoenix
boomers got vax (one of the few funny SNL skits)
https://www.youtube.com/watch?v=2hekDuCBxCc
You don’t get free healthcare if you retire at 55 as a teacher. That’s for people who had 25 years by 1997. So, yea, boomers. I’m not getting that. Besides, at 65 everyone goes on medicare.
Jim says:
January 13, 2022 at 11:30 am
Phoenix,
I can understand your bitterness with boomers, but in reality it should be with the public workers, aka police , firefighters, teachers, and all public employees. The politicians granted the crazy benefits to appease them and get re-elected.
My brother-in-law retired @50 ( police) pension of $55,000 with 100% free healthcare, a teacher friend @55 pension $45,000 with full healthcare.
I am still working@ 70, your beef is with a certain group of boomers… not all of us. I am pretty sure you will not be working @ 70.
Politicians and public unions have f**k** us all, but lets put Murphy back in.
And why would you want to retire so early? Usually, that takes years off your life. You have to stay active. I have no intention of retiring that early. If I leave teaching, I would get another job. You have to keep yourself active, or the body and mind goes down the drain.
You (and your partner and any live-in children until they are in their 30s) do get a Cadillac health plan that the rest of us pay the same for a nearly catastrophic policy. If I quit my job after 25 years, I will still have to pay for my healthcare in full (which is ludicrously priced in America) for ten more years.
You should be paid more. Your benefits should be less. But lets not beat that dead horse again. You can thank your union for that deal.
The rules may have changed a bit for younger teachers like Pumpy.
Boomer got theirs. So Pumpy should get the same.
That would be fair, wouldn’t it.
This is what happens when you have a lack of equality.
https://youtu.be/-KSryJXDpZo?t=1
You are just upset that Faici made the Orange Morons newly appointed Consigliere (Rand Paul) look like a complete tool in front of the Senate.
Like when he denied they funded GOF research in front of Senate
from that article “You are just upset that Faici made the Orange Morons newly appointed Consigliere (Rand Paul) look like a complete tool in front of the Senate.”
Is this the same group of scientists that signed a letter that denied the possibility of a lab leak.
Every time the media wants to “debunk” something, they come up with a letter signed by a number of supposed experts. They did the same thing with Hunter’s laptop to say it was fake. Don’t fall for it.
Fauci funded GOF research by circumventing laws
Fauci’s emails showed he was concerned they were responsible for a lab leak at the beginning
Fauci took steps to suppress the lab leak theory
Fauci’s emails prove he used the media to slander several well regarded scientists when trying to shift narratives.
Why do you like this guy so much? He’s a total slimeball.
Lib,
Why should Pumpy’s benefits be less than Boomers?
Boomer is the one who left the debt, didn’t balance the state budget, wanted a tax break, charges more for his NJ crapshack.
Yeah, this horse needs to be beat some more.
I don’t like him at all. He’s just another hack. But he’s only being targeted for political reasons. I couldn’t stand him when he kissed Trump’s flabby ass. Why would I like him when he kissed Biden’s wrinkled bottom?
But man does the right have a hard-on for his termination.
BRT,
Now that’s a horse that’s truly dead, and no matter how much you try to beat it you will just waste your energy.
Fauci gonna ride off into the sunset like John Wayne, with a pension, a nice house, and a book deal.
It’s only if you pass a fake 20 will you get choked to death in America. In fact, in the self checkout I bought 5 George Floyd’s worth of food. Fit in 6 plastic bags, no cart required.
America.
Besides, at 65 everyone goes on medicare.
Yes it takes 25 years to get the free healthcare, and it even goes to the spouse, what a deal! . The medicare is paid by the state. If that law has changed , it has not affected the teachers/ police that already have it.
I notice you always praise King Murphy, no surprise there. I guess if he was kissing my but I would do the same…. AKA corruption.
If inflation keeps rising at the rate it is George Floyd’s life will only be worth one dollar by 2023.
Besides, at 65 everyone goes on medicare.
Until Boomer bankrupts it. And it’s coming.
So those who paid in later may never collect. Good luck getting your money from the dead. :)
Phoenix,
What’s really criminal, how I have to pay into my pension 8.5% and my healthcare at 10% of salary. They didn’t pay anything. F’ing boomers. Now I have to pay into the pension to keep their checks coming. This is the same generation that hit the lottery with their home values. Made a killing on real estate that’s not possible for my generation. And they still cry like our boy Jim here. Jim, why don’t you pay off some of the debt you created instead of bitching and leaving it for future generations.
Calling someone a moron or replying with an accusation of politics are totally non sequiturs. He had nothing substantive to say.
The truth is kryptonite to this guy. He’s did try to discredit actual health policy experts who questioned his pandemic response. His strategy failed.
He becomes hysterical when he’s questioned. He’ll continue to lash out more as the truth comes out. Defending this guy with what we now know is akin to Stockholm syndrome.
Best part, boomers got a dream stock market to retire on. So f’ing lucky and they don’t even realize it. You know the crash is going to wipe out my generation, but won’t happen till you guys die off.
PUMPS,
Jim, why don’t you pay off some of the debt you created instead of bitching and leaving it for future generations.
Your joking right?
When I had all the buildings, I paid over $70,000 a year in real estate taxes, after I sold two buildings last year I now have a capital tax gains bill for $129,000.00. You are an idiot. By the way that is what you called me a few weeks ago, shoe fits wear it. TROLL
Nobody carried me or my family …EVER.
Best part, boomers got a dream stock market to retire on.
Yet you keep pushing the biggest loser on Wall street ARK, thank God you have your pension, because the real world is unforgiving. Something you would not realize being a teacher. Tenure is great for teachers like you.
I’m simply pointing out how good your generation had it. You made how much on real estate and here you are crying about paying taxes on it.
Jim, you simply don’t understand the strategy of investing in high growth. Did you think high growth would never see a correction? Now you are acting like the sky is falling when it’s an opportunity opening up.
Fauci has also grown the anti vaccine crowd by ten filled with his duplicity and politicization of science. He ignored all fda guidance. That will be a big part of his legacy in addition to the millions dead.
You can’t make money if stocks don’t go down. Most can’t comprehend this.
Best stock market EVER is now, that’s reality. Maybe you have not noticed. I owned the real estate over 35 years, get real. Did you get your participation trophy when you were a kid? Snowflake fits you to a tee.
Rand is not his father, and that’s too bad.
Jim, you simply don’t understand the strategy of investing in high growth. Did you think high growth would never see a correction? Now you are acting like the sky is falling when it’s an opportunity opening up.
Did I mention I made $145,000.00 in my IRA last year?
Jim, so what are you complaining about? Life is good. Seems like you are killing it.
Not complaining just replying to your ill informed babble.
Jim: sooner or later we all succumb to the same behavior no matter the best of intentions.
Jim says:
January 13, 2022 at 12:19 pm
PUMPS,
You are an idiot.
Ron Paul had virtues and values that did not change. He was labeled a crazy by right bc sound money policy is considered lunacy now. His also did not support aid to foreign countries including Israel, nor foreign wars, so military industrial complex hated him too.
Rand believes in nothing other than what makes him popular, appearing supportive to Dumpy as convenient play to red-hat dolt base. He is worst scum out there. No values, no beliefs.
You claim govt workers are the problem…specifically teachers. Wtf did we do?
Why don’t you go cry about the people that are making billions. Nah, instead it’s the govt workers that are the problem. People making insane money out there (aka profiting off you at an insane rate to the point they can make hundreds of millions/billions in a short amount of time), but yea, it’s those damn govt workers that are the problem. We need to get rid of those teachers before they take us all down with their healthcare and pension.
Hey Chi,
Boing!
I always laugh when teachers point to the richest people in the world as to what they gave up to become teachers. I’d love to introduce Pumps to the hundreds of college educated people that I have managed, many with masters, who after twenty years in the private sector, make less than he does with benefits that cost 1/10th of his.
But he’s only being targeted for political reasons.
Schiff, Pelosi and Schumer’s only existence each day for four years was to discredit Trump aided by the fake f.ucking news. Wait ’till the midterm elections, I hope the Republicans skewer the demented c0rpse in the White House and anybody with a ‘D’ after their names.
Did you think high growth would never see a correction
Funny, we all tried to warn of you of this in Jan/Feb and you would have none of it.
BRT,
You could say that again.
Lib,
I’m simply pointing out that if you are going to complain about teachers pay, you can’t ignore the people making millions.
BRT,
I was wrong and own it. Can we move on now?
pnkin hed,
What time is lunch over? Are your students back in the classroom yet?
Class starts shortly. Just went on my nice walk to get my daily 10,000 steps in. Beautiful day out there.
Eddie: for you….
https://www.youtube.com/watch?v=z3kzAL_vw8s
Fast Eddie says:
January 13, 2022 at 1:07 pm
But he’s only being targeted for political reasons.
Schiff, Pelosi and Schumer’s only existence each day for four years was to discredit Trump aided by the fake f.ucking news. Wait ’till the midterm elections, I hope the Republicans skewer the demented c0rpse in the White House and anybody with a ‘D’ after their names.
Dumpy discredited himself every time he opened his mouth or incessantly completed a shitter and twitter. Of course, he had a perfectly big brain according to himself.
ChiFi,
I read that the phrase was being used in campaign ads.
Well, if the shoe fits…
“Just Ask Roger Stone” First that should be Convicted Felon Roger Stone. Is that where you get your outrage from. Do you actually know what Gain of Function is or is it just another Outrage Point coming from the WingNut side of the GOP?
At 81, I am pretty sure Fauci is not in it for the pension.
Bagdhad Embassy attacked. That response is impressive.
https://twitter.com/nafisehkBBC/status/1481668167957110785
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”- Frederic Bastiat (French Economist)
That is some nice fireworks..Too bad for the Iraqis living in the flight path of all that lead. A thousand falling 20 mm bullets will surely ruin the new paint job on the house.
Fauci committed perjury before congress and indeed circumvented the laws around GoF experimentation. He should be removed from his post, nothing political about it, if you fail to do your job properly, break the law and than lie about it there should be consequences.
Pumps on retiring early, none of these gov employees actually “retire” as in white shoes, cadillac and move to florida retire. They change jobs, heck how many private school teachers are retired public school teachers? Lots take up a different career, since you have paid healthcare and some guaranteed income you can become a consultant/contract employee. Think of it this way if you “retire” at 52 but really work another 10-12 years you can bank all that pension money in an IRA, for many that would end up being a pot of 700k-1m plus 10+ years in private sector means they would get a bigger SS check. A smart teacher in the past could basically work it out as such that they’d have a pension, a million dollar nest egg and income exceeding what they made as a teacher by the time they hit 67. Cops do the same thing, I had a realtor who was a PA cop, retired after 9/11 and started selling homes. Boomers had a good deal how many cops should be able to afford a house in Ridgewood and a beach house, heck a good corporate job today won’t provide that.
This virus via it’s genetic predecessors came from a caves full of bats in China. The idea that it jumped from a bat to a mouse (yes we infected mice with it’s predecessor) then to a pangolin and then to humans? We know it is possible just like a variant like omicron may have come from humans to mice and back to humans again even now the deer in the USA are all infected with delta variant. Who knows what kind of variant we will see from infected deer? Should we cull them all before it mutates?
The problem I see is the whole idea of funding an NGO to go traipse around the world in caves and collect thousands of bat and other animal viruses and catalog them and then send the virus via fedex to a lab and then wire some money to a foreign or even domestic lab to perform tests. On the onset even if the scientits all have the best intentions it still does not sound like the safest thing to do, and we have now introducted the failings of humanity to a virus that is happy to stay in a cave for perhaps eternity.
These viruses supposedly would not normally jump to humans directly, so we are told. They stayed in bats for thousands of years and now SCIENCE says we need to start collecting and studying them, not fully knowing how dangerous they can be or how they can escape since we really have no idea what they infect and how they do it until we take some poor mice and subject them to the virus to even begin to study it. Viruses have escaped labs before, heck infected mice have escaped the labs before too and the eminent wizard of science Dr. Fauci even proposed that idea in an email early on during the early days of the Pandemic.
Let’s stop with the virus collecting for now until we can come up with a better way then shipping the stuff all over the globe in Fedex packages and infecting small rodents. One day you might hear of how some porch pirate spread the new deadly Covid-22 killer American deer virus, just because he opened the wrong package and got a whiff of it.
Science
https://youtu.be/A7i-gKkVlAE=43s
https://youtu.be/A7i-gKkVlAEt=43
“WASHINGTON — President Joe Biden’s approval rating dropped to 33% in a new Quinnipiac University poll, the lowest mark of any major public survey during his presidency, as he takes a beating over his handling of the economy and coronavirus.
The poll, conducted Jan. 7 though Jan. 10 and released Wednesday, found 33% of all 1,313 adults surveyed approve of Biden’s job performance, while 53% disapprove. Ten percent did not offer an opinion.
The poll has a margin of error of 2.7 percentage points. When isolating just registered voters, Biden’s approval rating improves slightly to 35%.
Biden’s dismal numbers come as inflation has soared to a 39-year high and COVID-19 cases, which were on the decline last summer, have spiked to an all-time high amid the rise of the highly contagious omicron variant. Biden, who is nearing his first full year in office, campaigned on getting the pandemic under control and reviving the economy.”
Build back better. LMAO!
I can hear the chants now…
We want cankles! We want cankles!
This chant coming from the right of course…
“if you fail to do your job properly, break the law and than lie about it there should be consequences.”
If there were consequences, our incarceration rate would double overnight.
The reason firing Fauci is political (and I know I am preaching mainly to the converted) is because the Populist playpen portion of the GOP is still trying to downplay Covid. They have this pathetic equivocation that as long as they can prove Fauci intentionally lied, then all of the lies that their moronic leader told must also be true. Of course, only the loonies on the right would fall for this line of thinking. After all, when you are 15 times more likely not to be hospitalized from a vaccine and something like 50 times less likely to die from it and choose to selfishly take those risks because their political leaders and news pundits (who all took the vaccine) claim it represents a loss of freedom. Well I am not surprised.
I bet a lot of the disapproval is just personal dissatisfaction with Biden’s lack of presidential-ness. He looks like a weak old puppet who randomly veers from whispering to yelling at people.
Just as many apolitical people disapproved of Trump for his bullying, vanity, and lying, which also isn’t presidential.
Teen in Hillsborough who just died of Covid. Mother was anti-vaccine (evidenced by her Facebook page). I hope she can live with her brilliant decision. If her boy was unvaccinated, she should be locked up for manslaughter.
Help the guilty mother pay for her kid’s funeral.
https://www.gofundme.com/f/help-nicole-help-with-her-sons-funeral?
NoOne,
I agree. Though I completely disapprove of his handling of Covid, continued stimulus payments, the advance of the child tax credit and his complete lack of visibility.
Sadly, most people vote on image alone.
Lib,
Mommy’s rule the world when it comes to kids in the eyes of the law,fathers barely have any rights.
The Hillsborough kid’s story kills me. It’s why mandates are needed. Meanwhile the political supreme court just knocked down the workplace mandate.
Freedom my ass. Freedom to be as dumb as a flaming pile of cow manure maybe.
Fauci killed millions? No. The populist position of the GOP has and will continue unabetted.
Good luck Phoenix. Without the workplace mandate, you’ll be treating more and more selfish pricks in the name of freedom.
If you ever ask yourself how Europe was convinced that all Jews needed to be murdered, just look at the actions of today’s GOP. It’s really not different.
I’m still sick over the killing of that 19 year old girl in Harlem, working in a Burger King at 1:00 AM. Here, this girl is busting her a.ss and some piece of sh1t shoots her for $100. He couldn’t just leave with the money? I hope they get this m0therf.ucker soon. My stomach turns over the thought of this.
If you ever ask yourself how Europe was convinced that all Jews needed to be murdered, just look at the actions of today’s GOP. It’s really not different.
Omg… f.ucking really? Are you f.ucking losing your mind?
Know what’s sad Gary? I am headed to Costa Rica in April with the family (as long as Covid calms down). I feel safer in San Jose than in Manhattan, because it IS safer. Crazy.
Yet Fox News poll numbers show him at 47%
https://www.foxnews.com/official-polls
I’m not Gary.
You have a President that has convinced half the country that the election was stolen when it clearly wasn’t. A president that begged local politicians to find votes for him. Yet he’s not in jail. Watergate gots nothing on the GOP of today.
Freedom from taking a vaccine which could save your life. Oh the stupidity.
And yes, the Dems are corrupt. I know. One is hardly better than the other. But I’ll take old fashion self-enrichment over selfish, life-threatening lies any day of the week.
Lib,
Fair enough. But what has that got to do with the GOP and murdering Jews? That was way out of bounds.
Yeah, I know. Biden said you wouldn’t get Covid. LOCK HIM UP!!!
Oh, the stupidity.
Fabisu,
Approval for O’Biden is like approving Joe Judge be kept on as coach. It’s a lost cause… like a cry in the wilderness. This administration is dead.
GOP not murdering Jews. Not my point at all. GOP telling lies, risking lives. That’s the point! Have you heard all of the tapes from devoted Trumpies, who are not quite as smart as you, who realized that they should have been vaccinated when they are about to be intubated? They beg for the vaccine, but the doctors have to tell them it’s too late. For the first time, they realize they were mislead. Oh they are horrible to watch. It’s like the German’s who were asked during the concentration camp liberations, how could they commit these atrocities? And for the first time, they realize they were mislead by the Nazis. That is the comparison I am making.
Libturd says:
January 13, 2022 at 3:27 pm
“The reason firing Fauci is political (and I know I am preaching mainly to the converted) is because the Populist playpen portion of the GOP is still trying to downplay Covid…”
Not sure downplay is the right word, but it’s long past time that we learn to live with covid. When (if) an honest postmortem is ever done on covid, we’ll no doubt find that our collective response (lockdowns, vaxxed vs unvaxxed divisiveness, massively inflationary fiscal/monetary stimulus, never-ending boosters…) was far more destructive than the virus itself. As a top Israeli immunologist recently noted in an open letter to the Health Ministry, “Two years late, you finally realize that a respiratory virus cannot be defeated and that any such attempt is doomed to fail.” And then there’s this from NIH — something that probably could’ve been predicted on day one and should have driven our response all along…
A study estimated that nearly two-thirds of COVID-19 hospitalizations in the U.S. could be attributed to obesity, diabetes, hypertension, and heart failure. — https://www.nih.gov/news-events/nih-research-matters/most-covid-19-hospitalizations-due-four-conditions
Graham: If you want to be a Republican leader in the House or the Senate, you have to have a working relationship with Trump. Can Senator McConnell effectively work with the Donald Trump. I’m not going to vote for anybody that can’t have a working relationship with Trump
https://twitter.com/Acyn/status/1481452032292634626
Libturd says:
January 13, 2022 at 4:30 pm
“I feel safer in San Jose than in Manhattan…”
And yet you keep voting for Dems (like the ones that are in the process of trashing NYC). Talk about a lack of self-awareness…
Nice try Smalls.
I’ll give you the monetary stimulus. The rest you are playing Monday morning quarterback with.
We all know what those stimulus checks were for too. To keep this market inflated. Now the market drops as the currency inflates. Basic economics.
Vaccines might have worked if profit did not dictate policy. I said in January we should have invoked war powers and vaccinated the world. War powers are no longer possible now that we have decided that SPACs exist.
Our Supreme Court is really what differentiates us from the rest of the world. It used to pride itself on being non-partisan. This is no longer the case. With the fall of the court to rule with common sense, we are no better than any other so-called democracy.
Just because the Republicans hate Fauci for political reasons doesn’t mean we shoudn’t sh1tcan his old a**. There’s no reason to keep him. As far as grades go, I would give him an F-. As far as pandemics prevented through his actions, his score is likely -1.
The Hillsborough kid’s story kills me. It’s why mandates are needed. Meanwhile the political supreme court just knocked down the workplace mandate.
But if a kid dies from the vaccine?
Juice, it’s worse than that. They publish the sequences online and pretty much anyone in graduate school at any university can make the viruses from scratch. Keep this in mind, half of my department in Chem grad school were Chinese nationalists. Do you like the idea that they have access to that equipment to essentially make any virus and release it?
We don’t store weapons grade plutonium in the Physics department at Rutgers. That’s what we are doing here.
Big brother and $600 . . .
Venmo and similar must report accounts which receive more than $600 per year in business transactions inflows.
The fed government gets an automatic disclosure from these apps (which are analogous to a bank’s checking account, from a user’s perspective) which is triggered by a tiny amount of financial activity, rather than the government establishing probable cause or whatever because they suspect something is amiss. The liberties of American citizens just got kicked in the nuts, as of Jan. 1, 2022, but there wasn’t as much fuss about this compared to the similar Dem proposal for bank reporting for checking accounts with more than $600 of annual activity.
Finally, why is something like this promoted as necessary by the Dems? Because the fed govt wastes so much money that the super-efficient and productive w2 and 1099 system is not able to fund this monstrous federal government spending anymore.
https://www.marketplace.org/2022/01/07/irs-tells-payment-apps-to-report-business-transactions-over-600/
Libturd,
Longtime reader infrequent poster since the early days.
take a breather, your losing it. Cannot control what others do. Take a breath.
So they could not get their expansion of the IRS, you know 80,000 new IRS agents so now they are going after the little people?
$600 per year?? Really? IRS is going after tipping? The little people…That means the cleaning lady, the tutor, and the guy that washes my balls?
From Twitter
It must be brutal if you just watch TV and buy ARK funds in your 409K, then see the QQQ basically flat. People are gonna move out of ARK and into QQQ just as the FANGs get nuked. It feels like hammer time coming for everyone that didn’t learn from 2000, 2003, and 2007-09.
ARKK bears have been telling the ARKK droolers to use TQQQ instead. I was saying huge manager risk while others were still worshiping her. Jack Bogle would have issues with the leverage, but he’d have to side with me because TQQQ is index based.
If Biden gets his way with the IRS, I’ll be setting up an LLC for my tutoring. Then internet, every computer, book, gas purchase, car repair, pen/pencil/marker will get put on the books for my company that perpetually operates at a loss. I’ll also get to deduct miles for my 2nd job. The game is stupid. Stop trying to steal the little man’s income.
Lib is fine his problem is he is sitting on a pile of cash and has a gamblers itch…
Lib I know what you can do with that 70% cash…viatical settlements for the covid infected…
Now hear me out. The pitch is this…
If anyone in a family catches the Rona we can sell them a viatical settlement smart contract…..Think of it as Defi for life insurance, as they don’t get actual cash but the promise of Bitoin or crypto coin of their choice if someone dies of Rona..
And we don’t take it all just a mere 33.33% of their insurance policy….
We need cash for the informercials….I know a guy out of Florida..he is great at this stuff.
Lib- re: “Now the market drops as the currency inflates. Basic economics.”
So for every 0.25 this makes you afraid? It’s going be to be a long few years here if we debate every time the fed makes a noise about raising rates and actually does it.
We all need to CONTINUE TO go long equities, as unless someone else chimes in (besides crypto kiddies or the metals fogies) we are inflating until cows come home.
The plan is should be to minimize your holding in currency and go long for gain as your currency erodes in buying power.
Fed fear factor is excess reserves….Watch cash at banks…. and wake me up when the plan changes…..
Polska!
https://www.reuters.com/business/healthcare-pharmaceuticals/polish-scientists-find-gene-that-doubles-risk-serious-covid-2022-01-13/
It’s pathetic and telling that you guys can’t understand Lib’s point about Covid. It’s dangerous. Sure, it doesn’t impact everyone, but wake the f up. You guys politicized a dangerous virus. Don’t you realize by now that the Republican propaganda machine is brainwashing you into bashing people for taking vaccines or for taking this virus seriously? Don’t you realize they want to make this as dysfunctional as possible so that they can use it to attack the dems and get their power back? It’s blatantly obvious, yet you guys eat it up. Pathetic.
The political propaganda machine that trump created has never been stronger. You have both sides doing it now and it makes me sick. Why do you always have to attack the other side, and I’m talking about both sides. WHY THE F’K is it so DIFFICULT to sit down like adults and work together to compromise for the greater good? Why?!
And BRT for god’s sake, stop acting like the virus is harmless. Can you do me that favor? It impacts everyone differently and for some it is a death sentence.
The End Is Nigh (Stu Edition):
https://www.msn.com/en-us/news/world/man-facing-eviction-blows-up-his-own-home/ar-AASKtHV
Is the market irrational or rational?
For god’s sake, if these people have any type of patience and understand it is a long game, they would relax. I promise it will come back. It might take years, but it will. This is no different than people mocking amazon stockholders when the stock dropped 95%. If you are investing in good companies with great innovative ideas that is constantly growing, you will be okay just like the amazon shareholders that knew what they owned, added at the bust, and continued to hold. Those individuals are filthy rich now.
Btw, You know who was buying amazon at 10 dollars…cathie f’ing wood.
You know who was buying tesla and bitcoin before everyone else…cathie wood. You know who was one of the first to invest in faang before it became popular? Cathie wood.
You see the trend here? Yet, everyone and their mother out of the hatred for her success are bashing her on an bad year that has nothing to do with her strategy and everything to do with market cycles that are out of her control. All she can do is continue to buy, stick to the strategy, and patiently wait for the cycle to come back.
BRT says:
January 13, 2022 at 5:27 pm
From Twitter
It must be brutal if you just watch TV and buy ARK funds in your 409K, then see the QQQ basically flat. People are gonna move out of ARK and into QQQ just as the FANGs get nuked. It feels like hammer time coming for everyone that didn’t learn from 2000, 2003, and 2007-09.
ARKK bears have been telling the ARKK droolers to use TQQQ instead. I was saying huge manager risk while others were still worshiping her. Jack Bogle would have issues with the leverage, but he’d have to side with me because TQQQ is index based.
For Eddie:
https://www.tmz.com/2022/01/12/joe-judge-drowns-giants-firing-sorrows-with-massive-order-of-beer-and-pizza/
Fast Eddie says:
January 13, 2022 at 4:39 pm
Fabisu,
Approval for O’Biden is like approving Joe Judge be kept on as coach. It’s a lost cause… like a cry in the wilderness. This administration is dead.
Your LLC cannot perpetually operate at a loss. It will disqualify its standing.
BRT says:
January 13, 2022 at 5:31 pm
If Biden gets his way with the IRS, I’ll be setting up an LLC for my tutoring. Then internet, every computer, book, gas purchase, car repair, pen/pencil/marker will get put on the books for my company that perpetually operates at a loss. I’ll also get to deduct miles for my 2nd job. The game is stupid. Stop trying to steal the little man’s income.
Maybe they never charged enough taxes in the first place. We obviously need the spending. What are we going to abandon our military? Are we going to abandon public education? Are we going to abandon social security? Seriously, I’m all ears on how you drastically cut spending without destroying the world’s power structure and our society.
Problem always has been tax dodgers and not enough taxes on the wealthy and their corporations. They control politics aka control our govt, and they are never ever going to hurt themselves by raising their taxes or paying their fair share.
As far as I am concerned, most don’t pay their fair share except for the suckers in professional middle/upper middle class. Of course that class is dying, so govt revenue is hurting more and more. Just run that debt up.
“Finally, why is something like this promoted as necessary by the Dems? Because the fed govt wastes so much money that the super-efficient and productive w2 and 1099 system is not able to fund this monstrous federal government spending anymore.”
I am. Conflicted. I know Pumps’ OCD driven posting patterns are a net detriment to this community. On the other hand, reading about yet another dim Boomer proclaim himself a bootstrapped investing savant is making my eyelid twitch. Where is my scythe?
Man, this is going to be a tough decision. Arkg is almost at 50. Stressful next couple weeks for me. Have to resist trying to buy and gamble on it going lower. It’s already so cheap though, just hope I get this right. Odds are against it going much lower if economy holds up, but the market is irrational. This could go lower.
Maybe will get lucky and it drops to 40 or 30. I mean, another 20% is 40. Really hard to see that though.
Pumps,
DCA in in small amounts if you believe it. Just be aware of what everyone here is telling you. Personally, that’s not my type of investment. Doing it the old way works just fine for me. Stop gambling and start investing.
Stan,
You are correct. You cannot control what others do. I’ll calm down. I just can’t believe how foolish others have become. Kumbaya.
Juice Box,
No gambling itch, though I am Jonesing a bit since I won’t do AC with Omicron running wild. Haven’t gambled since my Vegas trip. Though for some reason, Bally’s AC (Twin Rivers) just sent me $500 to gamble on their new online casin0. Only had to play the money through once. I accidentally hit button on a slot game and lost $1 before I knew what I did. Then I took the other $499 and bet red and black at the same time on a European Roulette Table (single 0 only). $50 a hand. 5 spins later I had $499 in my account as I managed to avoid the dreaded green zero (about a 1 in 37 chance per spin or about a 1 in 7 chance in five spins). The $499 will be in my Chase account in five business days. Man are they stupid. I love free money.
Glad to see the insurrectionists get real prison time. Shame it never happens to the rich or elected.
I just logged back into the Ballys site to make sure my withdrawal went through. They locked my account. I wouldn’t have wanted it any other way. I don’t gamble online.
Your LLC cannot perpetually operate at a loss. It will disqualify its standing.
$1 profit then?
And BRT for god’s sake, stop acting like the virus is harmless. Can you do me that favor? It impacts everyone differently and for some it is a death sentence.
Take your meds moron. You suffer from hallucinations.
Ryan Mikula. Clifton qb after I graduated. Lost both parents to covid. Tell me again how this is nothing.
“We remember Dennis Mikula, Sr.
Dennis was President and owner of Mikula Contracting, Inc., which his father had founded and which Dennis elevated to being named the “New Jersey Family Business of the Year” for 2020.
May God bless Dennis.”
https://twitter.com/govmurphy/status/1478068571569897473?s=21
Two parents from my Edgewater kid park crew lost spouses to it. All political and MSM bs aside, it’s gut wrenching to hear about spouses and kids coping.